Brent H
11-19-2007, 12:28 PM
Money and Debt: A Solution to the Global Crisis (http://circ2.home.mindspring.com/Money_and_Debt_Part1_lo.PDF)
by Thomas H. Greco, Jr.
Second Edition, 1990
pp. 26-27
In addition to the above, there is active discussion of the monetary system and a broad-based effort to abolish the Federal Reserve System. This too has been largely ignored by the media.
Some pertinent facts are:
1. There is a national movement which is challenging the constitutionality of the Federal Reserve System and the monetary monopoly, and is seeking to make it a political issue.
2. The National Conference of State Legislatures has 4 times voiced its concern over the monetary system and has called for the states to act to challenge it.
3. The legislatures of 5 States (Arizona, Alabama, Indiana, Idaho and Utah) have passed resolutions calling for repeal of the Federal Reserve Act and 12 more are considering it. (CRC Bulletin #287, May 1986).
4. During 1987, the Legislature of the State of Washington voted to hold a 26 referendum on a proposal to have that State bring suit in U.S. Supreme Court challenging the constitutionality of the Federal Reserve System. The 1987 elections included the referendum, and while it did not pass, proponents managed to garner 36% of the vote in favor of the referendum - this with minimal resources to mount only a very modest informational campaign, and “slanted and inaccurate information” put out by the Washington (state) Bankers Assn. (“Honest Money for America,” vol.4, #4, Dec. 1987)
Other developments of probably greater importance are 1) the rediscovery of a vast body of Monetary Freedom literature, 2) the dedicated efforts of a small corps of modern theoreticians who are exploring the nature of money and alternatives for mediating the exchange process and, 3) the growing number of alternative exchange and local currency systems which are beginning to spring up in diverse places. Models are being developed and tried. The most promising approach appears to be the creation of a network of locally controlled (credit) exchanges similar in their essentials to those developed by Michael Linton. Linton’s design, called LETS, for Local Employment and Trading System provides for the facilitation of exchange within a limited area or group without the imposition of interest charges, the use of legal coercion or the establishment of any privileged class. (See Linton and Greco, “The Local Employment Trading System,” Whole Earth Review, vol. 55, Summer 1987).
by Thomas H. Greco, Jr.
Second Edition, 1990
pp. 26-27
In addition to the above, there is active discussion of the monetary system and a broad-based effort to abolish the Federal Reserve System. This too has been largely ignored by the media.
Some pertinent facts are:
1. There is a national movement which is challenging the constitutionality of the Federal Reserve System and the monetary monopoly, and is seeking to make it a political issue.
2. The National Conference of State Legislatures has 4 times voiced its concern over the monetary system and has called for the states to act to challenge it.
3. The legislatures of 5 States (Arizona, Alabama, Indiana, Idaho and Utah) have passed resolutions calling for repeal of the Federal Reserve Act and 12 more are considering it. (CRC Bulletin #287, May 1986).
4. During 1987, the Legislature of the State of Washington voted to hold a 26 referendum on a proposal to have that State bring suit in U.S. Supreme Court challenging the constitutionality of the Federal Reserve System. The 1987 elections included the referendum, and while it did not pass, proponents managed to garner 36% of the vote in favor of the referendum - this with minimal resources to mount only a very modest informational campaign, and “slanted and inaccurate information” put out by the Washington (state) Bankers Assn. (“Honest Money for America,” vol.4, #4, Dec. 1987)
Other developments of probably greater importance are 1) the rediscovery of a vast body of Monetary Freedom literature, 2) the dedicated efforts of a small corps of modern theoreticians who are exploring the nature of money and alternatives for mediating the exchange process and, 3) the growing number of alternative exchange and local currency systems which are beginning to spring up in diverse places. Models are being developed and tried. The most promising approach appears to be the creation of a network of locally controlled (credit) exchanges similar in their essentials to those developed by Michael Linton. Linton’s design, called LETS, for Local Employment and Trading System provides for the facilitation of exchange within a limited area or group without the imposition of interest charges, the use of legal coercion or the establishment of any privileged class. (See Linton and Greco, “The Local Employment Trading System,” Whole Earth Review, vol. 55, Summer 1987).